BlueCity Holdings Limited Announces Formation of Special Committee
04 Janvier 2022 - 10:00AM
BlueCity Holdings Limited (“BlueCity” or the “Company”) (NASDAQ:
BLCT), a leading online LGBTQ platform, today announced that its
board of directors (the “Board”) has formed a special committee
consisting of three independent directors, Wenjie (Jenny) Wu,
Shengwen (Roy) Rong, and Guojie Shi, to evaluate and consider the
previously announced preliminary non-binding proposal letter dated
on January 2, 2022 (the “Proposal”). Wenjie (Jenny) Wu will chair
the special committee.
The Board cautions the Company’s shareholders and others
considering trading the Company’s securities that no decisions have
been made with respect to the Proposal. There can be no assurance
that any definitive offer will be received, that any definitive
agreement will be executed relating to the transaction contemplated
by the Proposal, or that the transaction contemplated by the
Proposal or any other similar transaction will be approved or
consummated. The Company does not undertake any obligation to
provide any updates with respect to any transaction, except as
required under applicable law.
About BlueCity Holdings Limited
BlueCity (NASDAQ: BLCT) is a world-leading online LGBTQ
community providing a comprehensive suite of services to foster
connections and enhance the wellbeing of the LGBTQ community. The
company fulfills both the daily and lifelong needs of its members
through a wide range of targeted and tailored services, including
social networking, livestreaming and health-related services. With
commitment to providing high-quality user experience, ensuring
privacy protection, and promoting community health and well-being,
BlueCity has captured the hearts and minds of LGBTQ people across
the globe. Available in 13 languages, BlueCity’s mobile app Blued
has connected more than 60 million registered users in about 170
countries and regions.
Forward-looking Statements
This announcement contains forward-looking statements. These
statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
“may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,”
“plan,” “believe,” “is/are likely to,” “potential,” “continue” and
similar statements. Among other things, business outlook and
quotations from management in this announcement, as well as
BlueCity’s strategic and operational plans, contain forward-looking
statements. BlueCity may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including but not limited to
statements about BlueCity’s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: the Company’s goals and strategies; the Company’s
ability to retain and increase the number of users, paying members
and advertisers, and expand its product and service offerings; the
Company’s future business development, financial condition and
results of operations; the expected changes in the Company’s
revenues, costs or expenditures; the Company’s expectation
regarding the use of proceeds from its IPO; competition in the
Company’s industry and its popularity within the LGBTQ population;
and relevant government policies and regulations relating to the
Company’s industry; and the development and impacts of COVID-19.
Further information regarding these and other risks, uncertainties
or factors is included in the Company’s filings with the U.S.
Securities and Exchange Commission. All information provided in
this press release and in the attachments is current as of the date
of the press release, and the Company does not undertake any
obligation to update such information, except as required under
applicable law.
For more information, please contact:
In China:
BlueCity Holdings LimitedInvestor RelationsPhone: +86
10-5876-9662Email: ir@bluecity.com
The Blueshirt GroupMs. Ally WangPhone: +86 139-0106-6802Email:
ally@blueshirtgroup.com
In the United States:
The Blueshirt GroupMs. Julia QianPhone: +1 973-619-3227Email:
Julia@blueshirtgroup.com
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